Morgan Stanley (NYSE: MS) Downgrades Research in Motion (NASDAQ: RIMM) By Two Notches

Morgan Stanley (NYSE: MS) Downgrades Research in Motion (NASDAQ: RIMM) By Two Notches

Morgan Stanley (NYSE: MS) analysts downgraded shares of Research in Motion Corp (NASDAQ: RIMM) by two notches from “Overweight” to “Underweight.” The analysts set a $47.00 price target saying that the firm could lose market share at a faster pace in a research note to investors on Friday. The analysts cut 2011 EPS from $5.68 to $5.70 and 2012 from $6.75 to $5.94.

Research In Motion Limited (RIM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information, including e-mail, phone, short message service (SMS), Internet and intranet-based applications. RIM’s portfolio of products, services and embedded technologies are used by organizations worldwide and include the BlackBerry wireless solution, the RIM Wireless Handheld product line, software development tools and other software and hardware. Its subsidiaries include Research In Motion Corporation, Research In Motion UK Limited and RIM Finance, LLC. On June 2, 2010, Harman International sold its software operating systems unit, QNX Software Systems, to the Company.

Shares of RIMM traded down 3.47% on Friday ending at $48.71 during mid-day trading on Friday.

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